Libya recently elevated its diplomatic and economic ties with China to the level of a strategic partnership, during the 2024 China-Africa Cooperation Forum (FOCAC) in Beijing after both countries have been estranged for more than a decade.

The new partnership agreement is focused on improving trade, investment, and agriculture between the two countries. But also looking ahead, this partnership could see increased investments in Libya’s energy sector.

Through this strategic partnership, both countries will want to foster high-quality economic development and deepen cooperation as part of the broader China-Africa vision for modernization and mutual progress, in line with China’s Belt and Road Initiative.

Recently, China has expressed keen interest in strengthening trade and investment ties with Libya, particularly in areas like infrastructure, industry, and energy. Chinese companies are already engaged in sectors such as oil and construction, and Libya has invited more Chinese companies to enter its market. One of the projects China is involved in is the housing project in Benghazi which the China State Construction Engineering corporation resumed working on.

The renewed cooperation underlines a strategic move by both counties to deepen their economic ties, and leverage Libya’s natural resources and China’s industrial capacity. As part of the long-term cooperation plan, we can expect a more pronounced Chinese presence in Libya’s key economic sectors.

Upcoming joint economic forums, scheduled for early 2025, are expected to further explore opportunities for Chinese investment in Libya, especially in rebuilding and modernizing its infrastructure​.


 

Eltumi Partners – Energy & Infrastructure Experts

We provide commercial legal and strategic advice across international energy and infrastructure projects. Combining proven experience, top-tier ability and relentless drive, we are Libyan market specialists – navigating the complex legal landscape to connect markets that intersect in and around Libya.

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